Penserra Capital Management LLC Buys 8,813 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Penserra Capital Management LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,231 shares of the cryptocurrency exchange's stock after buying an additional 8,813 shares during the period. Penserra Capital Management LLC's holdings in Coinbase Global were worth $9,684,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter worth about $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $26,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $35,000. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of Coinbase Global during the 4th quarter valued at about $37,245,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Trading Down 0.8%

Coinbase Global stock traded down $2.73 during mid-day trading on Tuesday, reaching $354.37. 4,378,218 shares of the company traded hands, compared to its average volume of 10,754,706. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The firm's 50 day moving average price is $268.27 and its 200 day moving average price is $243.30. The firm has a market capitalization of $89.97 billion, a price-to-earnings ratio of 66.41, a P/E/G ratio of 26.03 and a beta of 3.70. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director owned 10,417 shares in the company, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,915 shares of company stock worth $222,081,432 in the last quarter. Company insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. Cantor Fitzgerald began coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a report on Friday, May 9th. Needham & Company LLC reduced their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a research report on Wednesday, June 25th. Finally, William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.74.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.